SJC gold bar price
As of 5:00 p.m., the price of SJC gold bars was listed by DOJI Group and Bao Tin Minh Chau at VND134.5-136.5 million/tael (buy in - sell out), an increase of VND1.5 million/tael in both directions compared to a day before. The difference between buying and selling prices is at 2 million VND/tael.
Phu Quy Gold and Stone Group listed the price of SJC gold bars at 134-136.5 million VND/tael (buy - sell), an increase of 1.5 million VND/tael in both directions compared to a day ago. The difference between buying and selling prices is at 2.5 million VND/tael.
9999 gold ring price
As of 5:00 p.m., DOJI Group and Phu Quy listed the price of gold rings at 129.9-132.9 million VND/tael (buy - sell), an increase of 1.1 million VND/tael in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 130.6-133.6 million VND/tael (buy - sell), an increase of 1.5 million VND/tael in both directions compared to a day ago. The difference between buying and selling is 3 million VND/tael.
The buying-selling gap is pushed up too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.
World gold price
The world gold price was listed at 6:53 p.m. at 3,825.9 USD/ounce, up 67.2 USD compared to a week ago.
Gold price forecast
Gold prices soared above $3,800/ounce for the first time in the September 29 trading session, supported by expectations that the US Federal Reserve (FED) will continue to cut interest rates - a factor that weakens the USD - along with concerns about the risk of the US government closing down, boosting safe-haven demand.
US President Donald Trump is expected to meet with bipartisan leaders during the day to discuss a budget extension, avoiding the risk of the government having to close from October 2.
UBS expert Giovanni Staunovo commented: "With the Fed cutting interest rates further in the next 6 months, I think gold still has room to increase, towards the mark of 3,900 USD/ounce".
He said concerns about the possibility of a US government shutdown are also boosting demand for safe-haven assets such as gold.
Previously, the personal consumption expenditure (PCE) index released last weekend was in line with forecasts, reinforcing expectations that the Fed will cut interest rates further. According to the CME FedWatch tool, traders are assessing a 90% chance of a 0.25 percentage point Fed cut in October and a 65% chance of a further cut in December.
Since the beginning of the year, gold has increased by more than 45% thanks to the benefits of low interest rates and the context of economic - geopolitical instability. Many securities companies also raised their gold price prospects. The world's largest gold ETF SPDR Gold Trust said its holdings increased by 0.89% to 1,005.72 tons last weekend.
" spending on official buying and capital flows into ETFs plays a key role in gold's strength, while demand for jewelry and recycled supply are factors that hold back," notes Deutsche Bank.
Independent analyst Ross Norman said that silver and platinum are driven by increased industrial activity thanks to lower interest rates and higher storage demand as countries want to ensure supply amid uncertainty in the global supply chain.
Michael Moor - founder of Moor Analytics predicts the highest probability scenario is that gold prices continue to increase. He cited a series of important technical milestones and recommended buying when prices broke through key levels.
Meanwhile, Kitco veteran expert Jim Wyckoff believes that the less resistant path for gold prices is still moving sideways with an upward trend. Gold prices are steadily rising in the context of maintaining a strong uptrend in terms of technology, Wyckoff said.
Notable economic data of the week
Monday: Waiting for signing a house contract (USA).
Tuesday: JOLTS job positions (USA), Consumer confidence index (USA).
Wednesday: ADP Private sector Employment Report (US), ISM Manufacturing PMI.
Thursday: Application for weekly unemployment benefits (US).
Friday: US Non-farm Payrolls, ISM Services PMI.
Note: Gold price data is compared to a day earlier.
See more news related to gold prices HERE...
